Louisiana Revised Statutes 33:3689.11 – Sale and delivery of certificates
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Terms Used In Louisiana Revised Statutes 33:3689.11
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The police jury of the parish issuing such paving certificates may by resolution empower and authorize its president and its secretary to negotiate and deliver such paving certificates and collect the purchase price therefor and do any and all things necessary and incidental thereto, or authorize delivery to the contractor of all or any part thereof in payment of its contractual obligation covering such improvements. The funds derived from the sale of the said paving certificates shall be expended solely in payment of the costs of the improvements herein authorized and shall not be drawn upon for any other purpose whatsoever.
Acts 1952, No. 430, §11.